Redflex shareholders reject takeover bid

Redflex shareholders rejected the bid by US-based private equity firm The Carlyle Group and Australia's major investment bank Macquarie Group to take over the traffic enforcement products and services specialist. Despite the Redflex board having unanimously recommended acceptance of the offer, which was AU$2.75-a-share, valuing the company at $303.5 million, the bid remained unsuccessful.
May 16, 2012 Read time: 1 min
112 Redflex shareholders rejected the bid by US-based private equity firm The 2257 Carlyle Group and Australia's major investment bank 802 Macquarie Group to take over the traffic enforcement products and services specialist. Despite the Redflex board having unanimously recommended acceptance of the offer, which was AU$2.75-a-share, valuing the company at $303.5 million, the bid remained unsuccessful.
Detection, Monitoring & Machine Vision Enforcement

For more information on companies in this article

Related Content

  • Australian investment firm buys UK’s M6 toll road
    June 16, 2017
    Australian investment firm IFM, which co-owns Manchester Airport and Anglian Water, has bought the UK’s M6 toll road, reports the BBC.
    Read More
  • Strike action prompts commuters to try something different
    June 2, 2014
    David Crawford highlights responses to transit disruption on both sides of the Atlantic. Shortly before workers at San Francisco Bay Area Rapid Transit (BART) began a lengthy round of pay and conditions-related strikes in summer 2013, impacting on the daily lives of 400,000 communities, online ridesharing group Avego publicised a new web address: bartstrike.com. By the start of the following week, Avego was encouraging stranded commuters to download its smartphone app by offering them the chance in a raffle
    Read More
  • Bosch completes takeover of Taiwan’s Unipoint Group
    March 23, 2012
    The Bosch Automotive Aftermarket division has completed the takeover of the Unipoint Group, based in Taipei, Taiwan, which achieved sales of US$124 million in 2010 and currently employs around 2,360 people at two production locations in mainland China and Taiwan, as well as at various sales locations.
    Read More
  • Redflex reinstated as ‘responsible vendor’ by City of Chicago
    February 23, 2017
    Redflex Traffic Systems (RTSI) has been reinstated as a ‘responsible vendor’ by the City of Chicago, allowing it to compete again for City business. As previously announced, the Company has resolved all US issues related to its 2013 inquiry into wrongdoing by former executives. In a letter announcing the reinstatement, the City praised Redflex saying the company had cooperated fully, taken appropriate disciplinary action, effected remedial measures, instituted review and control procedures, and implem
    Read More

Highlighted Content